Wednesday, February 11, 2015

Now there's an idea, Comrades

Morning Star The People's Daily reports that Venezuela reinvents the wheel;
FINANCE Minister Rodolfo Marco launched a new foreign exchange platform on Tuesday that will devalue the bolivar heavily while bolstering state coffers amid tumbling oil revenues.
The new platform, called Marginal Currency System or Simadi, is the third system in a three-tier exchange control mechanism and will allow for legal trading of foreign currency based on supply and demand, said Mr Marco.
“This third mechanism is open and free, in which bidders and buyers exchange offers,” he said during a press conference with central bank president Nelson Merentes.
Why don't you go with that, Nelson. Say, apply it to the market for toilet paper.

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